Mel can't sell. The soon-to-be-divorced star can't seem to shake Old Mill Farm, his Greenwich, Connecticut home. Gibson first put the home on the market in the summer of 2007 for $39.5 million. He dropped the price to $35 million last September. But with a divorce in the works and an eighth child on the way with his new girlfriend, he's got bills to pay and a home to get rid of and so now he's pared the price down to under $30 million. Old Mill Farm can be yours for $29.75 million.

Old Mill Farm is a design by architect Charles Lewis Bowman built in 1926 for his horse lover client, G.L. Ohrstrom. The home is one of the last great manor homes in Greenwich and is significant not just for the architecture but for the fact that it has 77 acres of land. The home itself is an Elizabethan-inspired Tudor mansion of 15,800 square feet and the property has 15 bedrooms and 18 bathrooms total. The jaw-dropping room of the place is the great hall which has a 40-foot cathedral ceiling with a stone minstrel's gallery, walk-in fireplace and leaded glass ceilings. The grounds, which were done by landscape designer James Doyle, include formal gardens and a maze. There is also a terrace pool, tennis court, greenhouse, stable, staff houses, log cabin and a pond on the property.

You'd think that this new low price might lead to a sale but in Greenwich, as the NY Times reports, nothing is certain anymore. Greenwich has been home to some of the biggest price drops in the history of residential real estate including the top spot in our recent list of big price cuts, Leona Helmsley's Dunnellen Hall which has dropped in price by $50 million since it first hit the market. One person who seems to have sold in the area is Regis Philbin. His Greenwich home listing has disappeared.

After reading about the real estate downturn in Greenwich, Connecticut in a recent issue of The New Yorker, I wondered what effect this will have on homes still on the market, in particular, Mel Gibson's Old Mill Farm. A quick look at the listing reveals that Gibson, who has had the property on the market for $39.5 million for over a year now, recently dropped the price to $35 million.

The home is one of Greenwich's treasures. No McMansion, Old Mill Farm is a design by architect Charles Lewis Bowman built in 1926 and is one of the last great manor homes in Greenwich and is significant not just for the architecture but for the fact that it has 77 acres of land which includes formal gardens, a maze, pool tennis court, greenhouse, stable staff houses, log cabin and a pond. The home itself is an Elizabethan-inspired Tudor mansion of 15,800 square feet and the property has 15 bedrooms and 18 bathrooms total. The great hall has a 40-foot cathedral ceiling with a stone minstrel's gallery, walk-in fireplace and leaded glass ceilings. In this real estate climate, will a $4.5 million price cut be enough or does Mel need to lower the price a bit more?

I first mentioned this listing on Sunday. The esteemed Braden Keil of the NY Post broke the story that Mel Gibson has put his Greenwich, Conn. home on the market. The listing with photos just went live today so I wanted to bring you the pictures of why this home just might be worth the $39.5 million asking price. As commenter Spectacular Bid noted on my last post about this house, Old Mill Farm is a design by architect Charles Lewis Bowman built in 1926 for his horse lover client, G.L. Ohrstrom. The home is one of the last great manor homes in Greenwich and is significant not just for the architecture but for the fact that it has 77 acres of land.

The home itself is an Elizabethan-inspired Tudor mansion of 15,800 square feet and the property has 15 bedrooms and 18 bathrooms total. The jaw-dropping room of the place is the great hall which has a 40-foot cathedral ceiling with a stone minstrel's gallery, walk-in fireplace and leaded glass ceilings. The grounds, which were done by landscape designer James Doyle, include formal gardens and a maze. There is also a terrace pool, tennis court, greenhouse, stable, staff houses, log cabin and a pond on the property. For your $39.5 million you really do get a chance to slip into a whole other world. After the jump, imagine the movie Mel could have made here.

Mel Gibson has just put his Malibu mansion on the market. The house is next door to Britney Spears's home in a gated community and the actor is tired of all the commotion that Brit causes. Apparently, with the paparazzi and fans swarming all over the gates, not to mention the recent visits from the police and child services, Mel fears for the safety of his children.

Gibson bought the beachfront house for $24 million back in October. At 7,000-sq feet, it has six bedrooms, 10 bathrooms, a gym, library, an office, elevator, bar, lagoon pool and a cabana. Mel and his family will be moving into a home that the actor already owns in not-too-far-away Santa Monica Mountains, nearer to the Catholic church that he built.